The board members of Macarthur Coal have accepted the takeover bid made by Peabody Energy and ArcelorMittal. The partners will acquire all outstanding shares of Macarthur for approximately $5.1 billion.
As a part of the agreement, Arcelor and Peabody will pay $17.03 per share. On the transaction, JPMorgan is advising Macarthur, and UBS and Bank of America Merrill Lynch are advisers to Peabody, adds Reuters. RBC Capital Markets is advising Arcelor.
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